The U.S. economy is in good shape and GDP should rise to 2% to 3% by the end of the year, says Ron Sanchez, Executive VP and Director of Fixed Income Strategies at Fiduciary Trust. With that growth forecast in mind, Sanchez says investors should maintain their allocation to domestic stocks and most certainly not "sell in May and go away". He also says Treasury yields should rise slowly and investors should be defensive with their government bond allocations.

More from Emerging Markets

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

Jim Cramer: There Are Plenty of Shorts in Constellation Brands

Jim Cramer: There Are Plenty of Shorts in Constellation Brands

Renault Shares Hit 10-Year High on Nissan Merger Report

Renault Shares Hit 10-Year High on Nissan Merger Report